11/22/2023 0 Comments Kidder peabody paine webber![]() ![]() Nine branches sprang into existence during World War I, including PaineWebber ’s first in New York City in 1916. PaineWebber opened its first branch office in 1899 in the copper mining town of Houghton, Michigan. It purchased seats on the Chicago Board of Trade in 1909 and the Chicago Stock Exchange in 1916. In 1890 the firm joined the New York Stock Exchange. The firm admitted Charles Paine as a partner in 1881 and changed its name to PaineWebber & Company.įrom there, PaineWebber embarked on a steady course of expansion that would last well into the next century. The next year, Webber acquired a seat on the Boston Stock Exchange. ![]() Paine and Wallace Webber, formerly clerks at Boston ’s Blackstone National Bank, who set up shop on Congress Street in Boston. Paine & Webber was founded in 1880 by William A. Nevertheless, from a tiny partnership founded more than 115 years ago, PaineWebber has grown into a major international presence. PaineWebber runs the country ’s fourth largest brokerage, although it lags far behind the top three industry giants, Merrill Lynch & Co., Solomon Smith Barney Inc., and Morgan Stanley, Dean Witter, Discover & Co. is one of the largest full-service securities and commodities companies in the industry, offering asset management, investment banking, brokerage activities, and other related services to both institutional and individual investors. Employees: 16,000 Total Assets: $52.51 billion (1996) Stock Exchanges: New York Pacific SICs: 6159 Miscellaneous Business Credit Institutions 6211 Security Brokers, Dealers & Flotation Companies 6282 Investment Advice 6311 Life Insurance 6719 Offices of Holding Companies, Not Elsewhere Classified 6722 Management Investment Companies, Open-End 6726 Unit Investment Trusts, Face-Amount Certificate Offices, Closed-End Management Investment Offices 6799 Investors, Not Elsewhere Classified Public Company Incorporated: 1970 as Paine, Webber, Jackson & Curtis Inc. The PaineWebber Building 1285 Avenue of the Americas New York, New York 10019-6028 U.S.A. ![]()
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